The front electrode of the plasma torch disclosed in U.S. Pat. No. 4,587,397 has a passageway extending axially thereof and opening from its opposite ends. The passageway has a relatively long and narrow rear section and a generally cup-shaped front section. The front passageway section includes a generally cylindrical outer wall that is connected at its rear end by an inwardly and rearwardly sloping shoulder-like wall with the front end of the rear section of the passageway. When the arc generated b the torch attaches to the sloping wall of the front electrode, erosion of the electrode is primarily in an axial, rather than radial, direction. This significantly increases the useful life of the electrode. It has been found, however, that at times the movement of gasses leak within the electrode will drive the arc from the sloping wall to the relatively thin cylindrical outer wall of the front section of the electrode passageway, which undesirably reduces the electrode's useful life. Additionally, the relatively large diameter of the passageway opening at the front end of the main body of the electrode may at times permit undesirable "wandering" of the plasma stream passing from the electrode, and/or "slash-back" of molten metal, debris or the like into the torch. Further, while the provision of a sloping shoulder or wall having the slope specified in U.S. Pat. No. 4,587,397 is optimum for certain operating conditions, it has been found that a wall having a greater slope is more desirable under other operating conditions.